Stock market today: Live updates

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Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange on March 13, 2025. 

NYSE

Stock futures were little changed on Thursday night, as investors continue to evaluate the effect of higher U.S. Treasury yields on the economy.

Futures tied to the Dow Jones Industrial Average added 14 points, or 0.03%. Nasdaq 100 futures were marginally lower, while S&P 500 futures ticked up 0.03%.

In regular trading, the S&P 500 closed just below the flatline, as did the 30-stock Dow. Both posted their third consecutive losing day. The Nasdaq Composite was the outlier, rising about 0.3%.

Early Thursday, members of the House of Representatives cleared President Donald Trump’s sweeping tax bill. It now goes to the Senate. Worries about the cost of the measure – and its impact on the nation’s debt and deficit – sent long-term Treasury yields higher.

The 30-year Treasury bond yield touched a high of 5.161%, its highest level since October 2023. The rate on the 10-year Treasury note at one point breached 4.6%. Rates on both Treasurys ended the session off their highs.

“Even if the inability to reduce the deficit in the U.S. doesn’t lead to default, a large deficit still implies greater bond supply, and perhaps eventual inflation as the debt is monetized to avoid default,” said Thierry Wizman, global rates and currencies strategist at Macquarie. “Either way, it makes nominal fixed-income instruments less attractive as long-term investments.”

The revived fears over the economy follow Moody’s downgrade of the United States’ credit rating nearly a week ago. The rating agency cut the nation’s sovereign credit rating down one notch to Aa1 from Aaa, pointing to the government’s ballooning deficit and the cost of rolling over its existing debt.

The major averages are heading for losses on the week, with the S&P 500 down nearly 2% through Thursday’s close. The Dow is on pace for a decline of about 1.9%, while the Nasdaq is tracking for 1.5% slide week to date.

On the economic front, investors will be watching for building permits and new home sales data out Friday.

Investors are also heading into a holiday weekend that will see the stock market closed for Memorial Day on Monday.

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